Wall St cuts losses after factory orders

By IBT Staff Reporter03/31/10 AT 10:16 AM

Wall Street briefly cut losses on Wednesday after government data showed new orders received by U.S. factories rose for a sixth straight month in February.

The U.S. Commerce Department said orders for manufactured goods rose 0.6 percent for the month versus Wall Street expectations of a 0.5 percent increase, after an upwardly revised 2.5 percent climb in January.